1st January to 10th January 2020:
·
“Knowledge Initiative to
promote Corporate Governance”
MCA-ROC
Update:
1.
Relaxation
of additional fees and extension of last date in filing of formsMGT-7 (Annual
Return) and AOC-4 (Financial Statement) under the CompaniesAct, 2013- UT of
J&K and UT of Ladakh –
Extension of time for filing of financial statements for the
financial year ended 31.03.2019. Therefore, it has been decided to extend the
due date for filing of e-forms AOC-4,
AOC-4 (CFS) AOC-4 XBRL and e-form MGT-7 upto 31.01.2020, for companies
having jurisdiction in the UT of J&K and UT of Ladakh without levy of
additional fee.’
2.
Relaxation
of additional fees and extension of last date of filing of CRA-4 (cost audit
report for FY 2018-19 under the Companies Act, 2O13
Due date : On or before 29.O2.2O2O.
3.
Companies
(appointment and managerial personnel) Amendment Rules 2020
Ministry of Corporate Affairs (MCA), Government of India (GOI)
wide notification dated 03rd January, 2020 amended the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014.
These rules may be called the “Companies (appointment and
managerial personnel) Amendment Rules 2020”.
Comparative
Analysis of Companies (appointment and managerial personnel) Amendment Rules
2020 at
4.
Relaxation
of additional fees and extension of last date of filing of form BEN-2 under the
Companies (Significant Beneficial Owners) Rules, 2018.
Due date: 31.03.2020
1.
Amendment of rule 10DA and rule 10DB regarding furnishing of information and
maintenance of documents by Constituent Entity of an international group
Short
title and commencement:
·
These rules may be called the
Income-tax (2nd Amendment) Rules, 2020.
·
they shall come into force on the
date of their publication in the Official Gazette
2. CBDT notifies ITR-1 and ITR-4 for Assessment
year 2020-21
Short
title and commencement
·
These rules may be called the
Income-tax (1st Amendment) Rules, 2020.
·
They shall come into force with
effect from the 1st day of April, 2020.
3. Relaxation of time-Compounding of Offences
under Direct Tax Laws-One-time measure-Extension of Timeline-Reg.
Reference
is inv ited to the Circular No. 2512019 F. No. 285/08/2014-TT(Tnv. V)/350 dated
09.09.2019, whereby, the condition for filing of applications for compounding
of offences under the Income-tax Act, 1961 (the Act), to be filed within 12
months from filing of complaint in the court, was relaxed by CBDT till
31.12.2019, as a one-time measure.
1.
New GSTIN reallocated to taxpayers of Union Territory of Ladakh
New GSTINs
are reallocated to active existing taxpayers registered under J & K State
earlier with State code(01), having Principal Place of Business in jurisdiction
of Union territory of Ladakh (with UT code “38”). The list contains new GSTINs
along with old GSTINs. Taxpayers are requested to use new GSTINs while
generating the invoices and receiving of supplies etc. w.e.f. 1st Jan 2020.
2. Seeks to amend the notification No.
62/2019-CT dt. 26.11.2019 to amend the transition plan for the UTs of J&K
and Ladakh
(Notification No. 03/2020-Central
Tax ,dt. 01-01-2020)
3. Seeks to make amendment (2020)
to CGST Rules.
(Notification No. 02/2020-Central
Tax ,dt. 01-01-2020)
4. Seeks to bring into force
certain provisions of the Finance (No. 2) Act, 2019 to amend the CGST Act,
2017.
(Notification No. 01/2020-Central
Tax ,dt. 01-01-2020)
1.
SECURITIES
AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS)
(SIXTH AMENDMENT) REGULATIONS, 2019
(BSE
Circular No. LIST/COMP/47/2019-20 dated 02.01.2020)
SEBI vide notification no. No. SEBI/LAD-NRO/GN/2019/47 dated
26.12.2019 has amended the Securities and Exchange Board of India (Issue of
Capital and Disclosure Requirements) Regulations, 2018.
·
Applicability:
They shall come into force on the date of their publication in the
Official Gazette.
·
Scope:
These regulations shall be applicable to the draft letter of
offer, letter of offer and abridged letter of offer filed on or after the date
of coming into force of these regulations.
Link of the
Notification:
2. SECURITIES
AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS)
(FIFTH AMENDMENT) REGULATIONS, 2019
(BSE Circular No. LIST/COMP/48/2019-20dated
02.01.2020)
Securities and Exchange Board of
India (SEBI) has on December 26, 2019 vide notification No.
SEBI/LAD-NRO/GN/2019/45 notified Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) (Fifth Amendment)
Regulations, 2019.
·
Applicability:
They shall come into force on the date of their publication in the
Official Gazette.
·
Scope:
Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
Link of the
Notification:
3. Annual
System Audit of Market Infrastructure Institutions
SEBI had mandated that stock
exchanges and depositories should conduct an Annual System Audit by a reputed
independent auditor. Subsequently, the framework was also extended to clearing
corporations.
Market
Infrastructure Institutions are advised:
·
to conduct
an Annual System Audit as per the framework given under circular
·
to maintain
a list of all the relevant SEBI circulars/ directions/ advices, etc. pertaining
to technology and compliance thereof (format given under Circular)
·
to submit
information with regard to exceptional major Non-Compliances (NCs)/ minor NCs
observed in the System Audit (format given under Circular)
·
to categorically
highlight those observations/NCs/suggestions pointed out in the System Audit
(current and previous) which remain open.
IBC UPDATES !!
·
IBBI amends the IBBI (Liquidation
Process) Regulations, 2016
·
Insolvency and Bankruptcy Board
of India (Liquidation Process) (Amendment) Regulations, 2020 (https://www.ibbi.gov.in/uploads/legalframwork/6eda1d32cfc69cf3fbf91feff9116078.pdf
)
Read
Full at:
·
IBC Circular On Deposit of
unclaimed dividends and / or undistributed proceeds of liquidation process in
accordance with regulation 46 of the Insolvency and Bankruptcy Board of India
(Liquidation Process) Regulations, 2016.
Link: https://www.ibbi.gov.in/webadmin/pdf/whatsnew/2020/Jan/Liq-circular27_2020-01-09%2023:56:57.pdf
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